Thu, 8 Nov 2012, 6:04am PST
One thing is, people want our gasoline, so if we can ship them that that might help our trade imbalance.
(Refineries are pretty weird in that they can get more product out of a barrel than they put in . . . "refinery gain" or somesuch)
I have no problem with the drilling per se, I just don't like how the money seems to end up with the Kochs, since that oil (in the ground) shouldn't really be owned by anyone, unless they put it there in the first place.
Thu, 8 Nov 2012, 6:42am PST
Here's the problem with assuming that drilling more and more means cheaper and cheaper gas prices: Oil is an internationally traded resource extracted, processed, and sold by international oil companies. The price is set by global demand. For example Canada actually produces more oil than their population could ever possibly use. The result? Their prices are about the same as us. So much for drilling more and more...